AU Small Finance Bank: Merging with Fincare to enter MFI segment, southern markets: AU Small Finance Bank
AU SFB, in a late evening regulatory filing on Sunday, announced its approval of the amalgamation. Post the deal announcement, Fincare's Rs 625-crore initial public offering will be on the back burner, said Divya Sehgal, a nominee director on its board and added that the promoter of the entity will infuse Rs 700 crore into the bank before the merger.
Source: indiatimes.com